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Whether you're an international traveller visiting Melbourne or a local planning a trip overseas, there are plenty of convenient places to exchange foreign currency in and around the Melbourne CBD.
Keep reading for details of some of the currency exchanges to compare when searching for the best value for money.
S Money is an online currency exchange, but they also have one store in the Melbourne CBD. Based on our research, S Money offers the best exchange rates in Melbourne but charge a percentage-based service fee and a $14 service fee for home delivery. For example, they charge around 1.8% when exchanging AUD to USD. In comparison, Travelex and Travel Money Oz add a markup of 3.70% on conversions to US dollars.
Address
Contact Number
Next to the Great Southern Hotel, 44 Spencer St
1300 50 10 80
2. Travelex
As one of the most recognised names in the world of currency exchange, Travelex allows you to buy and sell over 45 currencies either online or in-store. Travelex has 2 locations in the CBD and 13 locations within 20 miles of the CBD.
Address
Contact Number
261 Bourke St
(03) 9654 4222
67 Swanston St
(03) 9650 5624
3. Travel Money Oz
Travel Money Oz supports more than 60 currencies, and also a travel money card that can be pre-loaded with up to 10 currencies. You can buy currency from Travel Money Oz online or in-store, with the provider boasting 3 locations in the CBD. Their exchange rates aren't as competitive as S Money's but their customer service is excellent.
Address
Contact Number
108 Elizabeth St in the Royal Arcade
1300 161 371
97 Swanston St
1300 651 927
Shop E26 Galleria, 385 Bourke St
1300 651 994
4. United Currency Exchange
United Currency Exchange is a Melbourne-based provider with branches in Swanston Street and QV Melbourne. They are open five days a week from 9am to 5:30pm. You can place an order either online or in-store, and there are more than 35 currencies available.
Address
Contact Number
QV MALL, QVA01 Lonsdale St &, Swanston St
(03) 9671 3993
Level 5/55, Swanston St
(03) 9671 3993
QV MELBOURNE, Shop 26, Level 3/22-24 Jane Bell Ln
(03) 9671 3993
5. Crown Currency
Crown Currency is a currency exchange company that was founded in 1998. They have 11 branches in Victoria but only one in Melbourne CBD. Crown Currency offers a wide range of currency exchange services, including cash exchange, traveller's cheques, and international money transfers. Unlike other services, they don't display exchange rates on their website so you will need to contact them for a quote.
Address
Contact Number
Midtown Plaza, Kiosk K001/246 Bourke St
(03) 8638 9967
Tips for getting the best deal when exchanging money
Know the mid-market rate. Use Google to find the current mid-market exchange rate. This will let you work out whether the rate being offered by a currency exchange service represents good value.
Shop around online. Rather than visiting several stores in person, shop around online to find the provider with the best rates and lowest fees.
Check for fees. Make sure you check the fine print to find out what fees apply to your transaction. Remember that even if an exchange bureau claims that it doesn't charge any fees, your transaction will still cost money as the provider always adds a margin to the mid-market exchange rate.
Avoid airport exchange bureaus. These locations generally offer low exchange rates and higher fees.
Steer clear of ATMs. Withdrawing money from a foreign ATM may be a simple and convenient option, but the high fees and disappointing exchange rates mean it's also quite expensive.
Compare money transfer services
Looking to send an international money transfer rather than exchange currency? Compare our options below to save money on transfer fees and lock in stronger exchange rates.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
Tim Falk is a writer for Finder, writing across a diverse range of topics. Over the course of his 15-year writing career, Tim has reported on everything from travel and personal finance to pets and TV soap operas. When he’s not staring at his computer, you can usually find him exploring the great outdoors.
Are you due to receive a large sum of money from another country? Familiarise yourself with Australian laws and tax regulations regarding money transfers.
Minimum and maximum transaction limits can restrict your international money transfer options, so compare overseas transfer limits in this handy guide.
If you’re going to Bangkok and considering exchanging AUD for Japanese yen, that would be fine. Most travelers would have their money exchanged for Japanese yen before arriving in Japan. You may also use our travel money guide for Japan.
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Is Bangkok a better place for exchange rate to change AUD to Japanese yen?
Hi Wendy,
Thank you for getting in touch with Finder.
If you’re going to Bangkok and considering exchanging AUD for Japanese yen, that would be fine. Most travelers would have their money exchanged for Japanese yen before arriving in Japan. You may also use our travel money guide for Japan.
I hope this helps.
Thank you and have a wonderful day!
Cheers,
Jeni